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ATO issues warning over crypto hack used to increase tax return: tax return

Taxman issues warning over a crypto trick Aussies are using to increase their tax returns

  • The Australian Tax Office has warned Australians not to use ‘asset wash sales’ 
  • It described the technique as ‘tax avoidance’ and said it would crack down  
  • The ATO warned that it is able to identify and track wash sales from Aussies 

The tax office has warned Aussies not to use a crypto trick to increase their tax returns. 

The ATO says ‘asset wash sales’ are a form of tax avoidance and they will be cracking down on them this year. 

Wash sales describe the…

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